|Bid||0.00 x 1100|
|Ask||0.00 x 800|
|Day's Range||96.16 - 97.21|
|52 Week Range||81.78 - 109.98|
|Beta (3Y Monthly)||0.52|
|PE Ratio (TTM)||55.25|
|Earnings Date||Feb 19, 2019|
|Forward Dividend & Yield||2.08 (2.19%)|
|1y Target Est||106.81|
Walmart has abandoned its plans to launch a new streaming video service, according to a report from CNBC. Instead of throwing resources behind a new product, the company will instead focus its attention on expanding its existing video platform Vudu. Rumors of Walmart getting into the streaming business started last year when the retail giant had its eyes on competing with Netflix and Amazon Prime Video.
Walmart has partnered with Point Pickup, Skipcart, AxleHire and Roadie to expand its grocery delivery program across four states. Walmart's grocery delivery is currently available in more than 800 stores, and plans to be in 800 more this year. To use Walmart's delivery program, customers go online, place an order and then select a delivery window.
Walmart reportedly dumped plans to launch a new streaming service that was in the works, presenting one less rival for Netflix.
The idea of a Walmart video streaming service (NYSE:WMT) may have sounded like a win to some considering how successful these types of services are, but the company has scrapped the idea. Source: Flickr> The retailer announced that the it decided to not carry on with the idea of a video streaming service after talks with Mark Greenberg, who is a veteran executive in the media industry, fell through last year. This was reported by people who are close to the matter but decided to remain anonymous because the discussions were private. While the Walmart video streaming service will no longer happen, the retailer said it will focus on expanding its reach with Vudu, a video service that it bought back in 2010. The service offers a number of moves and shows for free with ads, as well as videos that you can purchase with the goal of renting or owning them. InvestorPlace - Stock Market News, Stock Advice & Trading Tips "Vudu has developed a strong platform, and we aim to continue to bring our customers more content, on more devices, at the best possible price," Tara Raddohl-House, a Walmart spokeswoman, said in an email. The move makes sense for the retailer considering how crowded the video streaming industry has gotten and how difficult it can be to get a new service to become as competitive as the likes of Netflix and Amazon Prime Video. WMT stock is up about 0.4% on Thursday. ### More From InvestorPlace * Morgan Stanley: 7 Risky Stocks to Sell Now * 10 Stocks You Can Set and Forget (Even In This Market) * The 7 Best Stocks in the Entrepreneur Index Compare Brokers The post Walmart Video Streaming Service Is a No-Go appeared first on InvestorPlace.
Amazon.com spent more than $13.6 billion on technology in 2018, making it the biggest corporate IT spender in the world, according to new research from International Data Corp.
Walmart Inc (WMT.N) said on Thursday it has partnered with another four companies as part of its goal of offering grocery home delivery in more than 100 U.S. cities. Walmart's new partners are Point Pickup, which offers recurring same-day deliveries, and one-hour delivery company Skipcart, which uses crowdsourced labour. Walmart, the largest U.S. seller of groceries, said it will partner with the companies in four states.
Walmart Inc (WMT.N) said on Thursday it has partnered with another four companies as part of its goal of offering grocery home delivery in more than 100 U.S. cities. Walmart's new partners are Point Pickup, which offers recurring same-day deliveries, and one-hour delivery company Skipcart, which uses crowdsourced labor. Walmart, the largest U.S. seller of groceries, said it will partner with the companies in four states.
Walmart Inc. has partnered with Point Pickup, Skipcart, AxleHire and Roadie to expand its grocery delivery service to metropolitan areas in four states: South Carolina, Ohio, Florida and Alabama. Grocery delivery is available in 800 stores currently and 800 more will be added this year. Customers can use the service on orders of $30 or more, with free delivery available on the first order with a minimum purchase of $50. Walmart shares have lost 6% over the past year while the Dow Jones Industrial Average is down 7.3% for the period.
Walmart says it's now working with Point Pickup, Skipcart, AxleHire and Roadie in cities across four states, to start, with a larger expansion to take place "in the coming weeks."
CNBC's Alex Sherman reports on Walmart's abandonment of a video streaming service and refocusing its efforts on developing VUDU.